Devonian Health Group Inc. has completed a private placement totaling $2,272,999.85 to support its research and development efforts in treating inflammatory diseases.

Information on the Target

Devonian Health Group Inc. ("Devonian" or the "Corporation"), a clinical stage pharmaceutical company, specializes in devising innovative solutions for inflammatory diseases. With a commitment to addressing unmet medical needs, Devonian focuses its efforts on developing prescription drugs aimed at treating various autoimmune inflammatory conditions, including ulcerative colitis and atopic dermatitis. Established in 2015 and headquartered in Quebec, Canada, Devonian boasts a sophisticated extraction facility that ensures traceability from seed to pill.

The corporation operates not only in pharmaceuticals but also in the development of high-value cosmeceutical products. Devonian leverages its proprietary approaches and research foundation of over 15 years to create these products. Additionally, the company runs a subsidiary, Altius Healthcare Inc., which is dedicated to marketing prescription pharmaceutical products in Canada, under license from established brand-name pharmaceutical firms.

Industry Overview in Canada

The pharmaceutical industry in Canada is known for its robust infrastructure and supportive regulatory environment. With a high level of investment in research and development, companies are well-positioned t